Charles
& Colvard, Ltd. (NASDAQ:CTHR), the sole source of created
moissanite and Forever Brilliant®, The
World’s Most Brilliant Gem®, announced that its
Board of Directors has elected Neal Goldman to serve as Executive
Chairman of the Board, effective January 1, 2015. The announcement
follows the decision by George R. Cattermole to step down as Chairman of
the Board while remaining a Board member. The Board unanimously
appointed Mr. Goldman to lead the Company into its next phase of growth.
Neal Goldman became a director with Charles & Colvard in May 2014. His
financial expertise and knowledge of the direct-to-consumer market span
many years. He has served as President of Goldman Capital Management,
Inc., an investment advisory firm, since he founded the firm in 1985.
Prior to that, Mr. Goldman was an analyst and portfolio manager at
Shearson/American Express Inc. Mr. Goldman served on the Board of
Directors of Blyth, Inc., a multi-channel company focused on the
direct-to-consumer market, and includes in its portfolio two direct
sales companies, PartyLite Gifts and ViSalus. He also serves on the
Board of Imageware Systems, Inc., a leading company in the emerging
market for biometrically enabled software-based identity management
solutions.
Mr. Goldman said, “On behalf of the entire Board of Directors, I would
like to thank George Cattermole for his tremendous work in the role of
Chairman since February 2009. As the new Chairman, I and my fellow Board
members will continue to draw on his keen insights as we seek to bring
the Company to greater levels of success. I strongly believe Charles &
Colvard’s greatest achievements lie ahead, and we will work diligently
with management to further establish our brands in the marketplace.”
About Charles & Colvard, Ltd.
Charles & Colvard, Ltd., based in the Research Triangle Park area of
North Carolina, is the global sole source of moissanite, a unique,
near-colorless created gem that is distinct from other gems and jewels
based on its exceptional fire, brilliance, luster, durability, and
rarity. Charles & Colvard Created Moissanite®
and Forever Brilliant® are currently
incorporated into fine jewelry sold through domestic and international
retailers and other sales channels. Charles & Colvard, Ltd.’s common
stock is listed on the NASDAQ Global Select Market under the symbol
“CTHR.” For more information, please visit www.charlesandcolvard.com.
Forward-Looking Statement
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Statements
expressing expectations regarding our future and projections relating to
products, sales, revenues, and earnings are typical of such statements
and are made under the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include, but are not limited to,
statements about our plans, objectives, representations, and contentions
and are not historical facts and typically are identified by use of
terms such as “may,” “will,” “should,” “could,” “expect,” “plan,”
“anticipate,” “believe,” “estimate,” “predict,” “continue,” and similar
words, although some forward-looking statements are expressed
differently.
All forward-looking statements are subject to the risks and
uncertainties inherent in predicting the future. You should be
aware that although the forward-looking statements included herein
represent management’s current judgment and expectations, our actual
results may differ materially from those projected, stated, or implied
in these forward-looking statements as a result of many factors
including, but not limited to, our dependence on consumer acceptance and
growth of sales of our products resulting from our strategic
initiatives; dependence on a limited number of customers; the impact of
the execution of our business plans on our liquidity; our ability to
fulfill orders on a timely basis; the financial condition of our major
customers and their willingness and ability to market our products;
dependence on Cree, Inc. as the sole current supplier of the raw
material; our current wholesale customers’ potential perception of us as
a competitor in the finished jewelry business; intense competition in
the worldwide jewelry industry; general economic and market conditions,
including the current economic environment; risks of conducting business
in foreign countries; the pricing of precious metals, which is beyond
our control; the potential impact of seasonality on our business; our
ability to protect our intellectual property; the risk of a failure of
our information technology infrastructure to protect confidential
information and prevent security breaches; possible adverse effects of
governmental regulation and oversight; and the failure to evaluate and
integrate strategic opportunities, in addition to the other risks and
uncertainties described in our filings with the Securities and Exchange
Commission, or the SEC, including our Annual Report on Form 10-K for the
fiscal year ended December 31, 2013 and subsequent reports filed with
the SEC. Forward-looking statements speak only as of the date
they are made. We undertake no obligation to update or revise
such statements to reflect new circumstances or unanticipated events as
they occur except as required by the federal securities laws, and you
are urged to review and consider disclosures that we make in the reports
that we file with the SEC that discuss other factors relevant to our
business.
Copyright Business Wire 2015